Piyush Goyal: India to Counter US Tariffs, Protect Domestic Interests

Union Minister Piyush Goyal announced that the Indian government is assessing the impact of the 25% US tariffs and will undertake measures to safeguard the nation’s interests. Addressing the Lok Sabha, Goyal affirmed that the government is actively evaluating the situation and will take appropriate steps. He noted that the Ministry of Commerce and Industry is engaging with exporters, industries, and other relevant stakeholders to gather insights. Goyal reiterated the government’s priority of protecting the interests of farmers, workers, entrepreneurs, industrialists, exporters, and MSMEs. He also provided an update on the Bilateral Trade Agreement negotiations with the US, which commenced in March 2025, with the goal of concluding the first phase by late 2025. The minister also outlined the timeline of the US tariffs, beginning with an executive order on April 2, 2025 and the subsequent implementation and extensions.